New Southampton director Hans Hofstetter admitted last week that the restructured board had “inherited a difficult situation financially” as it emerged in the club’s latest set of annual accounts that there was an outstanding transfer debt of £27million.

Lallana, who joined the Saints as a 12-year-old and graduated from their famed academy, is rated in the £20m-plus bracket by the club and his value could rocket on the back of an impressive showing at this summer’s World Cup.

The 25-year-old attacking midfielder has had an outstanding season for Mauricio Pochettino’s team, in which he has started 31 of their 32 Premier League matches and scored nine goals.

Lallana won his first England cap last November and has performed so well in each of his three international appearances that, coupled with his club form, he is regarded as a virtual certainty to make Roy Hodgson’s 23-man World Cup squad.

Pochettino spoke in glowing terms of his club captain in the wake of Southampton’s 4-0 win over Newcastle on Saturday, describing him as a “special and unique player” who “has the skills of an [Andres] Iniesta, Xavi or [Cesc] Fabregas”.

The future of Lallana and his team-mates could be tied to that of Pochettino, who is yet to extend a contract that expires at the end of next season.

With the Argentine expected to be on Tottenham’s managerial target list should Tim Sherwood be sacked this summer, there is a possibility that Lallana might favour a move to Spurs.

However, Chelsea, Liverpool and United would all be in a position to offer the midfielder a bigger salary and the greater prospect of challenging for trophies than the north Londoners.